Location: OCM Wealth Management
Reporting to: SMF 16 - Directors / Senior Management Team
Department: Compliance & Risk
Role Purpose
The Compliance Manager is responsible for supporting and enhancing OCM's compliance framework, ensuring the firm operates in accordance with all applicable FCA regulations, industry standards, and internal policies.
The role is designed as a key succession and development position within the firm. The successful individual will be expected to progressively assume greater responsibility for the oversight of the compliance function, with the long-term objective of becoming the firm's SMF16 (Compliance Oversight) Function holder, subject to regulatory approval and demonstrating the necessary competence, capability, and experience.
Key Responsibilities
Regulatory Compliance
- Support the maintenance and development of OCM's compliance monitoring framework.
- Assist in ensuring adherence to FCA rules, including Consumer Duty, Conduct Rules, SYSC requirements, and other relevant regulatory obligations.
- Monitor regulatory developments and assess their impact on the firm's policies, procedures, and operations.· Maintain and update compliance policies, procedures, and registers.
- Support the maintenance and oversight of the firm's SM&CR framework, including Conduct Rules, Certification Regime and Senior Manager responsibilities.
Compliance Monitoring
- Conduct compliance monitoring activities in accordance with the Compliance Monitoring Programme (CMP).
- Identify, document, and report compliance risks, breaches, and control weaknesses.
- Track remedial actions and ensure timely implementation.
- Prepare management information and compliance reports for senior management.
Consumer Duty and Client Outcomes
- Support the firm's Consumer Duty framework and ongoing monitoring of client outcomes.
- Assist in the review of products, services, communications, and customer journeys to ensure fair value and good customer outcomes.
- Contribute to annual Consumer Duty assessments and reporting.
Risk Management
- Assist in identifying, assessing, and monitoring regulatory and conduct risks.
- Maintain risk registers and support risk assessments across business functions.
- Work closely with operational and advisory teams to strengthen compliance controls.
Training and Competence Awareness
- Deliver compliance guidance and support to staff across the business.
- Take Graduates through Stage 1 and Stage 2 Training and carry out regular assessments to ensure ongoing compliance with standards
- Assist with the design and delivery of compliance training programmes.
- Promote a strong culture of compliance, good conduct, and accountability throughout the firm
Regulatory Reporting and Liaison
- Support regulatory reporting requirements and FCA submissions.
- Assist in preparing information requests, audits, and regulatory reviews.
- Build effective working relationships with external compliance consultants, auditors, and regulatory bodies.
Leadership and Development
- Act as a trusted compliance adviser to senior management.
- Contribute to the strategic development of the compliance function.
- Demonstrate leadership behaviours consistent with future Senior Management Function responsibilities.
- Undertake a structured development programme to build the knowledge, skills, and experience required for future appointments as SMF16.
- Deputise for the Compliance Officer and represent the compliance function at management meetings where required."
Future SMF16 Development Path
This role is intended to provide a structured pathway towards assuming the SMF16 – Compliance Oversight Function within OCM.
The successful candidate will:
- Develop a comprehensive understanding of the firm's regulatory obligations and governance framework.
- Gain experience in compliance oversight, regulatory engagement, and senior management reporting.
- Participate in strategic decision-making relating to compliance and risk management.
- Build the competence and capability required to satisfy FCA expectations for an approved SMF16 individual.
- Be considered for future SMF16 approval, subject to performance, experience, regulatory requirements, and Board approval.
Skills, Knowledge & Experience
Essential
- Experience within a compliance, risk, or regulatory role in a financial services environment.
- Strong understanding of FCA regulation and the UK financial advice/wealth management sector.
- Knowledge of Consumer Duty and regulatory governance requirements.
- Excellent analytical, organisational, and communication skills.
- Ability to work independently and influence stakeholders across the business.
- Strong attention to detail and professional integrity.
- Level 4 Diploma in Financial Planning or equivalent financial services qualification.
Desirable
- Compliance-related qualifications (e.g., ICA, CISI, or equivalent).
- Experience supporting FCA-regulated advisory or wealth management businesses.
- Previous exposure to compliance monitoring and regulatory reporting.
Personal Attributes
- High ethical standards and sound judgement.
- Proactive and solutions-focused approach.
- Strong leadership potential.
- Ability to challenge constructively and influence positive outcomes.
- Commitment to continuous professional development.
Success Measures
- Effective delivery of the Compliance Monitoring Programme.
- Positive regulatory and audit outcomes.
- Timely identification and management of compliance risks.
- Strong Consumer Duty governance and evidence of good client outcomes.
- Demonstrated readiness to assume increased responsibility within the compliance function and progression towards SMF16 status.
Salary
£70k - £85k depending on experience
The role forms part of the firm's succession planning framework. Remuneration will be reviewed as responsibilities increase, including progression towards SMF16 responsibilities.
Annual Bonus
Target: 10% of salary
Linked to:
- Compliance Monitoring Programme delivery
- FCA audit outcomes
- Consumer Duty objectives
- Risk management KPIs
- Successful implementation of regulatory projects
Pay: £70,000.00-£85,000.00 per year
Benefits:
- Company pension
- Free parking
- On-site parking
- Private medical insurance
Work Location: In person
